The exception provides a tax result for U.S. multinationals that their competitors based in foreign countries generally have long enjoyed under their residence-country tax regimes.
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Yet they must compete with overseas firms that pay low tax rates on their own domestic investments and no additional home country tax on active profits from investments in other countries (including the U.S).
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Hearing them talk of tax cuts in a country whose tax take is among the lowest in the Western world likewise has not gone down well under the dour skies of north Europe.
In Britain the new government is considering raising capital-gains tax and closing loopholes, and a decision is expected soon from Australia's tax office about whether the country should tax carried interest as income or capital gains.
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But as a whole in this country our tax rates are not out of line.
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Today in our country the tax collector's share is 37 cents of -very dollar earned.
The IRS Cincinnati office handles applications from around the country for tax-exempt status.
Meanwhile, those who do pay taxes, in a country where tax evasion is a big problem, have to shoulder even more of the burden.
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This is not the "fault" of the poor any more than it is Mickelson's "fault" that he is considering leaving the country for tax reasons.
Each country may only tax profits generated in that country.
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So a relatively high-tax country such as France might see a drop in foreign investment if nearby tax havens went out of business, because foreign companies would no longer be able to use them to minimise French tax bills.
But due to the large tax bill the company would face from repatriating the cash, it will continue to pile up outside the country until the tax law changes or Apple figures out something else to do with it.
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Non-resident trading companies which do not have a branch in the UK, but have UK customers, will therefore pay tax on the profits arising from those customers in the country where the company is resident, according to the tax law in that country.
Our corporate leaders are carefully monitoring tax policies, and 61% said a country's overall tax policy would play an important role in their decision about whether or not to pursue a target in that country.
However, high levels of unemployment mean the country's tax and revenue base remains extremely low.
In effect, this means that each country could play tax haven to residents of others.
To get things started, I asked tax professionals around the country to give me their top tax tips.
The country's tax-collection system, notoriously porous to begin with, has sprung several new leaks in the past year.
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Mind you, someone whose businesses contribute 5.3% of his country's tax revenues can afford to be a little self-indulgent.
Every other country structures their tax code so that you have an incentive to invest there and create jobs there.
Many of the larger deposits in Cypriot banks come from wealthy Russians who use the country as a tax haven.
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The country's tax authority said it had filed criminal charges against HSBC.
If it accelerated the region's recovery, the Japanese might then ask themselves: why not make the whole country a low tax, bureaucracy-free zone?
And, they calculate that the marginal effective tax rate on investment by a U.S. firm in a low-tax country is, remarkably, a negative 24 percent.
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To see how your property taxes stack up compared to others around the country, the Tax Foundation has a handy look-up tool click here.
Indian firms are siphoning cash out of and then back into the country to avoid tax, or to prop up their own shares, some say.
Mr Osborne has made it clear he has no plans to lower the rate again, describing the rise to 20% as a "structural" change to the country's tax system.
But, until recently, there have been few incentives for generosity: The country's tax system doesn't favor charitable contributions, and efforts to donate are often met with Byzantine bureaucratic demands.
London also matters to the rest of the country because it produces so much of the country's tax revenue, which is redistributed to the regions through public spending and transfers.
In particular my father-in-law wanted to me to evaluate the claim that a national sales tax would solve the problem of large portions of the country paying no income tax.
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